FUNimation Performing Below Expectations

The Navarre Corporation has announced within its financial results for the quarter ending December 31st that, “FUNimation is currently performing below expectations.” ICv2 News identifies FUNimation’s performance as, “an indication of the current lackluster state of the anime industry.”

Navarre reported a loss of $6.1 million for the fourth quarter of 2005 despite a 17.1% increase in net sales for the quarter because Navarre wrote off $12.7 million owed to the company by now bankrupt Musicland.

Source: ICv2 News